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Experience economy means that:

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a successful entrepreneurial activity lies on the solid experience of the entrepreneur

th eexperience offered to the customer is at the basis of value creation

the commercial success of a product depends on continuous customer-producer interaction

The sector is a portion of the economic system

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in which firms are dependent on each other and use different production processes.

in which firms are similar to the extent they produce similar goods and they are characterized by rivalry and/or cooperation relationship

in which firms are similar to extent they produce similar goods and are interdependent because they operate at different levels of the chain

When process chooses to incorporate the steps that precede it in the chain, it is said to make a:

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functional upgrading

chain upgrading

process upgrading

The smiley curve shows that the most valuable activities of a firm:

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Are assembly and production activities.

tend to be at the ends of the curve

Are the activities that require a low to medium level of a staff qualification.

The collective trademark:

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has the aim of valorising the good/services of the trademark owner

Is a public sign that guarantees particular quality characteristics of goods and services

a differs from the individual trademark because of the dissociation between ownership and its use

Certification is the provision by which an independent third party certifies that:

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a product, process or service is compliant with a given standard.

a product, process or service complies with the legislation

a product, processor service is of a good quality

Contractual coordination, as opposed to integration by ownership, tends to prevail when:

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there is no general rule

one part is atomised

both parties are concentrated

A firm at the time of procuring a good/service, makes its decision between make or buy. it will choose buy when:

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The frequency of transaction is occasional and the level of resources specify is low

the frequency of transaction is recurring with multiple counterparties regardless of the level of resources specificity

the frequency of transaction is recurring and the level of resource specificity is high

If two enterprises carry out meat slaughtering they certainly are in:

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the same value chain but not necessarily the same sector

the same sector

the same sector and the same valuec hain

What type of upgrading does a firm carry out when it incorporates some of the activities of the other firms further downstream in the VC?

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functional upgrading

process upgrading

Chain upgrading

"Experience attributes” are those product characteristics that:

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can only be evaluated by experts

can only be evaluated by the consumer through consumption

can be reasonably evaluated by the consumer through observation of products

Turn key supplier and relational supplier differ in:

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the coding ability of the specifications they are required to meet

the complexity of the transaction carried out with the costumer

the level of expertise

Information asymmetry in the market for agri-food products is a condition in which:

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there is a little but homogeneously widespread information among all agents in the market

a sellers have more information than buyers

buyers have more information than sellers

The statement that “private label has made the retailers free from dependence on suppliers” means that:

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there has been an inversion of the Principal/Agent relationship, which traditionally sees the manufacturer as Principal and the retailer as the Agent.

the Principal-Agent relationship is confirmed according to which traditionally the manufacturer as Principal and the retailer as the Agent

The traditional Principal-Agent relationship is reserved: today, the Principal is the consumer, who imposes her/his needs, while the agent is the retailer.

When you decide to buy a field to make your farm larger, you want to verify that it is free from mortgages. This is a:

Policing cost

Search and information cost

bargaining cost

Organic certification and agroecology share:

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A. The approach, as they are both based on top-down approach

B. the informal scheme (no certification)

C. the aim of increasing environmental sustainability

Upstream integration occurs when the integrating firm:

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undertakes functions of operators who are downstream of the chain

is upstream in the chain with respect to the integrated firm

moves to earlier stages in the chain

Participatory guarantee system imply a:

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Third-party audits

first-party audits

Second-party audits

According to FAO, Value Added is equal to:

The differences between the consumer’s willingness to pay and the costs of the Land and Labour inputs

the ratio of the consumer’s willingness to pay the cost of the Land and Capital inputs.

Difference between consumer’s willingness to pay and the costs of the Land and Capital inputs

Accreditation is the formal recognition that:

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a food company has the facilities, material and human resources, and capabilities to perform certain tasks under specific standards.

a body (laboratory, or certification body) & has the facilities, material and human resources, and capabilities to perform specific tasks as per legislation.

a body (laboratory, or certification body) has the facilities, material and human resources, and capabilities to perform specific tasks under specific standards

Let's consider the transaction costs. The bank guarantee costs (A bank guarantee is a promise by a financial institution to meet the liabilities of a business or individual if they don't fulfill their obligations in a contractual transaction) are:

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Bargaining costs

Enforcement costs

Search costs

Large retailers use standards to:

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protect its suppliers against legal requirements.

make the best use of store shelf space.

get the vertical control of the value chain.

A disadvantage for the integrated company arising from contractual integration is:

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the expropriation of entrepreneurship.

increased production yields.

the reduction of market risks.

Adverse selection is when:

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Producers lower the quality of goods and keep the price unchanged

Premium price manufacturers exit the market, and lower quality goods only remain in the market.

there is a deadweight loss

From the analysis of the value chain in the Italian agro-food system, it can be stated that (SELECT THE WRONG ANSWER):

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A shift upstream of value addition is going on

A shift of value addition out of the agri-food system is going on

Undertakes functions of operators who & are upstream in the chain.

"Modular" governance is characterized by:

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high transaction complexity, high ability to codify transactions and a high level of power asymmetry between customer and supplier.

high transaction complexity, high ability to codify transactions and low level of power asymmetry between customer and supplier.

high transaction complexity, high ability to codify transactions and low suppliers technical capabilities.

PDOs and PGIs are:

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collective marks of the territorial quality of products.

distinctive signs of production traditional techniques.

distinctive signs of the territorial quality of products.

The main advantage for the patent holder consists of:

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economic monopoly in the territories covered by the patent for a period of time based on the resources invested in developing the invention.

economic monopoly in the country in which the patent holder has the headquarters.

temporary economic monopoly in the territories covered by the patent.

"Moral hazard" is when producers increase profits by:

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reducing production costs and selling a lower quality good at an unchanged price.

lowering the quality and price of products.

reducing production costs and selling goods of unchanged quality at lower prices.